Kraken has officially introduced regulated perpetual futures for U.S. customers, a significant development for the cryptocurrency trading landscape. This launch comes after the Commodity Futures Trading Commission (CFTC) provided guidance that facilitates the listing of these products on regulated platforms.
The perpetual futures, available through Kraken Pro and listed on Bitnomial—a CFTC-regulated exchange acquired by Kraken’s parent company, Payward—allow traders to engage in long or short positions on major cryptocurrencies like bitcoin, ether, and solana without the constraints of contract expiration. As long as margin requirements are met, positions can remain open indefinitely.
According to Kraken, the global trading volume for perpetual futures exceeded $60 trillion last year, with much of this activity occurring on offshore exchanges. The launch of these products in the U.S. aims to attract traders who have previously relied on international platforms for such offerings.
Kraken’s head of derivatives, John Palmer, noted that the adoption of these futures could mirror the growth trajectory seen with spot bitcoin exchange-traded funds (ETFs), where sophisticated traders typically enter the market first, followed by investment advisers and asset managers.
The recent approval by the CFTC also allows regulated exchanges to convert existing futures contracts that resemble perpetuals into true perpetual products. This is outlined in a no-action letter from the agency, which specifies that platforms can remove expiration dates from these contracts, provided they adhere to certain customer protection measures.
Kraken’s perpetual futures initially cover major cryptocurrencies, including BTC, ETH, SOL, XRP, ADA, LINK, DOGE, LTC, and AVAX, with plans to expand the range of contracts and collateral options in the future. The introduction of these futures represents a milestone in bringing popular crypto trading products into the U.S. market.
Kraken has launched regulated perpetual futures for U.S. customers, marking a pivotal moment in the cryptocurrency market. This follows new CFTC guidance allowing the listing of such products, aiming to attract traders previously reliant on offshore exchanges.